Tinubu Urged To Stop Impending Cement Price Increase

Building Collapse Prevention Guild (BCPG) has urged President Bola Tinubu to stop the impending increase in cement price in the country.

The guild, in a statement, signed by its national president Sulaimon Yusuf and general secretary, Mrs. Adenike Ayanda, said there were feelers that cement manufacturers are planning an upward review of their prices in early January of 2024.

They said, “The price of ready-mix concrete will also be increased while the cost of in-situ production of concrete will rise significantly. Such an increment, if allowed to take place, will worsen the economic situation of the nation.
‘’Cement is an essential ingredient in the production of buildings. Frequency in the increase of its price has impacted negatively in the nation’s housing sector. Experience has shown that high prices of cement tend to encourage reduction in the quality of building production. The consequence of this is the emergence of weak buildings that intensifies occurrence of building collapse.’’

The guild appealed to President Bola Ahmed Tinubu to invite cement manufacturers for an urgent discussion in order to forestall the impending increase in the price of cement.

‘’The president needs to interrogate the current N5,700 market price of a 50kg bag of cement despite the N3,500 price of the product recently promised by one of the cement manufacturers.

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“Any further increase in the price of cement will be a direct threat to the ‘Renewed Hope’ Housing Programme of the federal government. Completion of ongoing building projects might be jeopardised by the impending hike in the price of cement. Buildings abandoned during the process of construction aggravate the risk of building collapse. With the dwindling purchasing power, new buildings might lack patronage and occupants due to high rental value,’’ they said.